According to Reuters, the waiver extension will allow Serica to complete the acquisition of BP’s stake in the Rhum, Bruce and Keith fields, as well as buying Total’s stakes in Bruce and Keith, Serica said in a statement.
BP stopped work on Rhum Gas Field in May as the company cited the reintroduction of US sanctions against Tehran as the reason for the suspension.
BP discovered the Rhum field in the 1970s. Production was suspended in the early 2000s, as the US and several European countries imposed sanctions on Iran for its nuclear program.
MR/PR